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"China's business environment in terms of finance, logistics, communication, shipping, and technological innovation is becoming more and more promising," said Ian Chung, chief executive for China of AECOM.

"Compared to the downturn seen in smartphone demand and many other segments in the first six months due to the devastation caused by COVID-19, smartwatches remain a popular consumer device segment," said Sujeong Lim, senior analyst at Counterpoint Research.

"Consolidation is a natural progress for fast-growing businesses such as co-working spaces. Operators with market advantages will seek every opportunity to expand their market share," said Mi Yang, head of research at consultancy firm JLL North China.

"Chinese companies should increase investment in technology innovation and business model innovation, and the government should guide capable large companies to create a strategic layout at the forefront of technological development," Gu said at the forum held by People's Daily, a Beijing-based national newspaper group.

"Considering that the average basic consumption expenditure for residents in Chinese cities and towns is about 4,200 yuan a month per person in 2018, we set the minimum threshold of personal income tax at 5,000 yuan. It not only covers the expenditures but also leaves room for further increases in consumption," Vice-Finance Minister Cheng Lihua said at a news conference on Friday.